Yogesh K. Gupta - Oct 1, 2021 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Chief Executive Officer, Director
Signature
Stephen H. Faberman, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Oct 1, 2021
Transactions value $
-$322,094
Form type
4
Date filed
10/5/2021, 05:16 PM
Next filing
Jan 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Options Exercise $0 +5.26K +26.15% $0.00 25.4K Oct 1, 2021 Direct F1, F2
transaction PRGS Common Stock Tax liability -$116K -2.33K -9.19% $49.67 23K Oct 1, 2021 Direct F3
transaction PRGS Common Stock Options Exercise $0 +4.08K +17.73% $0.00 27.1K Oct 1, 2021 Direct F1
transaction PRGS Common Stock Tax liability -$89.9K -1.81K -6.68% $49.67 25.3K Oct 1, 2021 Direct F4
transaction PRGS Common Stock Options Exercise $0 +5.28K +20.88% $0.00 30.6K Oct 1, 2021 Direct F1
transaction PRGS Common Stock Tax liability -$116K -2.34K -7.66% $49.67 28.2K Oct 1, 2021 Direct F5
holding PRGS Common Stock 100K Oct 1, 2021 By Irrevocable Trust F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PRGS Restricted Stock Units Options Exercise $0 -5.26K -50% $0.00 5.26K Oct 1, 2021 Common Stock 5.26K Direct F1, F7
transaction PRGS Restricted Stock Units Options Exercise $0 -4.08K -25% $0.00 12.2K Oct 1, 2021 Common Stock 4.08K Direct F1, F8
transaction PRGS Restricted Stock Units Options Exercise $0 -5.28K -16.66% $0.00 26.4K Oct 1, 2021 Common Stock 5.28K Direct F1, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 Includes 780 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan on March 31, 2021.
F3 Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 22, 2019.
F4 Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 21, 2020.
F5 Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 19, 2021.
F6 These shares are held in a trust for the benefit of the reporting person's spouse and children. The reporting person's spouse is the trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the inclusion of these securities in this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F7 On January 22, 2019, the Reporting Person was granted 31,529 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2019, subject to the continued employment of the Reporting Person with the Company.
F8 On January 21, 2020, the Reporting Person was granted 24,492 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2020, subject to the continued employment of the Reporting Person with the Company.
F9 On January 19, 2021, the Reporting Person was granted 31,691 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2021, subject to the continued employment of the Reporting Person with the Company.